Solar Energy for the North: Magnora ASA Can Increase its Stake in Swedish Helios Nordic Energy

Stockholm, Sweden - Helios Nordic Energy AB is specialised in the development of large-scale ground-mounted photovoltaic projects in the Nordic countries. On 2 February 2021, the Norwegian Magnora ASA initially acquired 25 percent of Helios in a share issue.

The listed Magnora, in turn, is listed on the Oslo Stock Exchange and is a company specialised in renewable energy. Magnora has the option to acquire a further 15 per cent stake in Helios by 15 September 2021.

At the time of Magnora's investment in early February 2021, Helios had developed a project portfolio of 11 projects and 300 MW of installed capacity, Helios said. Since then, a further five projects with a PV capacity of 200 MW have been initiated, bringing the total portfolio to 500 MW.

Helios says the company’s plan is to expand its PV development portfolio to over 1 GW in the next 12 months.

Source: IWR Online, 12 May 2021